A few days ago, the State Administration of Foreign Exchange issued the Notice of the State Administration of Foreign Exchange on Regulating the Current Behavior of Large-scale Withdrawal of Bank Cards Abroad (Huifa [2017] No.29, hereinafter referred to as the Notice), which regulates the current behavior of large-scale withdrawal of bank cards abroad and improves cross-border anti-money laundering supervision.
The main contents of the notice include: first, individuals withdraw cash abroad with domestic bank cards, and the total amount of bank cards (including supplementary cards) under their names shall not exceed the equivalent of RMB 65,438+10,000 yuan in each natural year; The second is to unify the daily quota of overseas cash withdrawals for RMB cards and foreign currency cards into the equivalent of RMB 1 10,000 yuan; Third, if an individual uses a domestic bank card to withdraw cash overseas beyond the annual quota, he will be suspended from using a domestic bank card to withdraw cash overseas this year and the following year; Fourth, individuals are not allowed to evade or help evade overseas cash withdrawal management by borrowing other people's bank cards or lending their own bank cards.
The foreign exchange bureau insists on supporting the cross-border compliance use of personal cards. Standardizing the large-scale overseas cash withdrawal transactions of bank cards is a necessary measure for anti-money laundering, anti-terrorist financing and anti-tax evasion, which can further prevent illegal and criminal activities in the field of overseas cash withdrawal of bank cards. The Notice follows the requirement of current account convertibility, and does not change the annual foreign exchange purchase quota of US$ 50,000 for personal convenience, which does not affect the normal withdrawal and consumption of cash by individuals, nor does it affect the convenience of personal use of foreign exchange.
The Notice does not affect personal overseas card consumption. At present, bank cards have become the most important convenient payment tool for individuals to use abroad. Individuals can pay for food, accommodation, transportation, shopping and other regular transactions involved in outbound tourism, business and study abroad, and do not occupy the personal convenience to purchase foreign exchange of 50,000 US dollars per year. The Notice mainly regulates the overseas large-scale cash withdrawal of bank cards, and does not change the basic framework of foreign exchange management of bank cards and the policy of personal use of foreign exchange, so that individuals holding cards in consumption abroad will not be affected.